CG Power Share Price Extends Rally for 4th Session: What’s Driving the Stock Today?

Market Performance

The Indian stock market witnessed muted sentiment on Wednesday, September 3, but CG Power share price stood out by continuing its upward march.

• The stock rose 2.41% intraday, hitting a high of ₹757.20 on the BSE.
• The stock has now gained for four sessions in a row, climbing almost 14% since August 29.

Over the longer horizon, CG Power has proven itself as a multibagger. In the last five years, the stock has delivered a staggering 3029% return, turning heads across Dalal Street.

Main News: What Sparked the Rally?

The latest rally in CG Power shares traces back to a major announcement made on August 28, post-market hours. The company revealed the launch of its first Outsourced Semiconductor Assembly and Test (OSAT) facility through its subsidiary CG Semi.

This facility, located in Sanand, Gujarat, positions CG Power among India’s early movers in the semiconductor space. The announcement instantly became a key driver of investor confidence and kept the momentum going into September.

Company Details: Strengthening India’s Semiconductor Ecosystem

CG Power outlined its vision in the exchange filing, highlighting several milestones:

• CG Semi OSAT Facility: One of India’s first full-service providers for semiconductor packaging and testing.
• Technology Scope: Solutions covering both traditional and advanced packaging technologies.
• Strategic Impact: A big step toward India’s self-reliance in semiconductors, while also catering to global markets.
• Investment Plan: Over ₹7,600 crore (~$870 million) will be invested across five years.
• Two Facilities: Development of G1 and G2 plants at Sanand, Gujarat.
• Collaborations: Backed by the central and state governments, with support from Renesas and Stars Microelectronics.

This expansion doesn’t just showcase CG Power’s growth ambitions, but also aligns with India’s broader push to build a robust semiconductor value chain.

Summary

The CG Power share price rally reflects how one strategic announcement can transform investor sentiment. The unveiling of the OSAT facility in Gujarat has not only boosted market optimism but also underscored the company’s evolving role in India’s semiconductor ambitions.

• Stock up 14% in four sessions since August 29
• Hit ₹757.20 intraday on September 3
• Multibagger with 3029% return in five years
• ₹7,600 crore investment in two new semiconductor facilities

As the Indian stock market navigates mixed cues, CG Power’s momentum continues to grab attention. The story here is more than just about share price—it’s about a company shaping the future of semiconductors in India.